Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 1: The activities aimed at finding out customers' needs and satisfaction can be described as? Options:
  A) social-marketing
  B) macro-marketing
  C) micro-marketing
  D) conceptual marketing
  Show Answer
  The correct answer is D .
• Question 2:

  The internet is a system of telecommunication used for

  Options:
  A) The internet is a system of telecommunication used for
  B) Communicating long distance messages
  C) Sending and receiving text messages
  D) Communicating messages through telegrams
  Show Answer
  The correct answer is A .
• Question 3: An undertaking given by a person to another assuring his integrity is Options:
  A) proximate cause
  B) fidelity quarantee
  C) subrogation
  D) insurable interest
  Show Answer
  The correct answer is B .
• Question 4: The traditional way of paying cooperative dividend is to distribute profit in proportional to members'? Options:
  A) subscriptions
  B) total savings
  C) volume of purchase
  D) contributions
  Show Answer
  The correct answer is C .
• Question 5: Kabir receives two quotations. Ade quotes N 100 less 20% trade discount and 20% cash discount while Benson N100 less 30%trade discount and 10% cash discount. If Kabir wants to take advantage and cash discount, then Options:
  A) the material should be supplied by Ade
  B) the material should be supplied by both of them
  C) the material should be supplied by Benson
  D) Benson should be ask to reduce his trade discount
  Show Answer
  The correct answer is A .
• Question 6: The process of bringing a company under exclusive state ownership and control is know as Options:
  A) nationalization
  B) commercialization
  C) indigenization
  D) privatization
  Show Answer
  The correct answer is A .
• Question 7:

  Which of the following is not an objective of ECOWAS?

  Options:
  A) promotion of a common language
  B) improvement of infrastructural facilities
  C) encouragement of free movement of people
  D) encouragement of trade among member countries
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  The correct answer is A .
• Question 8:

  One of the products of the construction industry is a

  Options:
  A) piece of cloth
  B) bag of cement
  C) television
  D) chair
  Show Answer
  The correct answer is B .
• Question 9: The turnover of firm maybe affected by Options:
  A) the demand for its product
  B) the cost of its goods sold
  C) its closing stock
  D) its net assets
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  The correct answer is A .
• Question 10: The factor of production that is subject to depreciation is? Options:
  A) capital
  B) land
  C) labour
  D) entrepreneur
  Show Answer
  The correct answer is A .